The recession has brought home the hard truths of personal insolvency, of the need for proper financial management, and the risk of debt.  For many teenagers and younger persons across Britain, seeing their families worried and depressed by their finances is a swift wake-up call.  Many are learning to be more responsible, and to help out Mum or Dad with money, as more parents seek debt assistance from their children, and are faced with claiming bankruptcy or seeking other such debt solutions.  But will those same young people learn from all of this?

According to the Personal Finance Education Group, teenagers are becoming far more aware of just how serious debt problems can be.

"The more they can save up from an early age the better - it's about getting into a habit," commented Wendy Von den Hende, chief executive of the Personal Finance Education Group.

She has called on the young people of Britain to start saving and being more financially responsible today, and for the rest of their lives, so that they never end up in the same position as their families.

Personal insolvency is statistically most prominent on the north east of England, recent research suggests.